Trian Fund Management eliminates Legg Mason, Tiffany positions

Nelson Peltz’s hedge fund Trian Fund Management LP made few changes in the second quarter, according to a filing with the Securities and Exchange Commission late Friday. Trian eliminated its small stake in Tiffany & Co. and 11-million-share stake in Legg Mason Inc. , while adding slightly to its stake in Bank of New York Mellon Corp. and trimming slightly its position in DuPont .

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

From:: Stock Market News

Synnex shares fall as earnings outlook misses Street view

Synnex Corp. shares fell in the extended session Thursday after the business process services company’s earnings outlook fell short of Wall Street estimates. Synnex shares fell 8% after hours, following a 3.5% gain to close at $118.40 in the regular session. For the second fiscal quarter, Synnex estimates adjusted earnings of $2.25 to $2.35 a share on revenue of $4.58 billion to $4.78 billion. Analysts expect earnings of $2.41 a share on revenue of $4.75 billion. The company reported fiscal first-quarter net income of $24.4 million, or 61 cents a share, compared with $61.8 million, or $1.54 a share, in the year-ago period. Adjusted earnings were $2.14 a share. Revenue rose to $4.55 billion from $3.52 billion in the year-ago period. Analysts surveyed by FactSet had estimated $2.11 a share on revenue of $4.47 billion.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

From:: Stock Market News

Leave a Reply Cancel reply